Robin Hood: new allies, old allies
Over the last week, there have been several further articles supporting the Robin Hood Tax – some from past supporters like Jeffrey Sachs and Lord (Adair) Turner – following new support from the Archbishop of Canterbury and Polly Toynbee.
Lord Turner revisited his groundbreaking statement last summer describing financial speculators as socially useless. That intervention put financial transaction taxes at the top of the agenda, and this week’s speech reaffirmed his support: “we should certainly not exclude the potential role for financial transaction taxes.”
Meanwhile Jeffrey Sachs slightly undercut the news he made earlier in the week by co-authoring an article with Shadow Chancellor George Osborne. Some were shocked when Sachs agreed with Osborne that the public sector deficit should be cut – but in the Guardian, he made clear that, rather than cutting public services as the Conservatives have argued, Sachs backs tax rises: namely the Robin Hood Tax!